Khosla Ventures Leads $30 Million Round in Anrok

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Anrok&comma; a global sales tax platform for software companies&comma; has raised &dollar;30 million in a Series B funding round led by Khosla Ventures&comma; with participation from Sequoia Capital&comma; Index Ventures&comma; and others including Karen Peacock&comma; former CEO of Intercom&comma; David Faugno&comma; former CFO of Qualtrics and current president of 1Password&comma; Alex Estevez&comma; former CFO of Atlassian&comma; and Elad Gil&period; This funding will further enable the company to power global tax compliance in a world of digital products and services&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Software companies are global from day one&period; When you look at the complexities required to manage recurring revenue and compliance&comma; it is clear the digital economy needs a dedicated enterprise-grade solution&comma;” said Michelle Valentine&comma; co-founder and CEO of Anrok&period; &OpenCurlyDoubleQuote;I’m excited to scale Anrok’s operations and continue to serve the evolving needs of finance teams worldwide&period;”<&sol;p>&NewLine;<p>Anrok solves the sales tax problem for hundreds of software companies with an end-to-end solution for monitoring&comma; calculating&comma; collecting&comma; and filing taxes&period; In the past year&comma; the company has expanded its platform with a reconciliation tool&comma; advanced tax exemption certificate management&comma; and support for <a href&equals;"https&colon;&sol;&sol;cts&period;businesswire&period;com&sol;ct&sol;CT&quest;id&equals;smartlink&amp&semi;url&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;anrok&period;com&percnt;2Fproduct&percnt;3Futm&lowbar;campaign&percnt;3DseriesB&percnt;26utm&lowbar;source&percnt;3Dbusinesswire&percnt;26utm&lowbar;medium&percnt;3Dbusinesswire&amp&semi;esheet&equals;53928012&amp&semi;newsitemid&equals;20240410487432&amp&semi;lan&equals;en-US&amp&semi;anchor&equals;VAT&plus;and&plus;GST&plus;compliance&amp&semi;index&equals;2&amp&semi;md5&equals;66d316041e4aba18a875b66fe10c1492" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">VAT and GST compliance<&sol;a> in every country that taxes remote sellers of software or digital products&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Anrok is an essential part of the financial stack of the world’s best SaaS and AI companies&comma;” said Ethan Choi&comma; partner at Khosla Ventures&period; &OpenCurlyDoubleQuote;We’re thrilled to support Anrok’s mission of simplifying and automating sales tax compliance for software companies and digital services&period;”<&sol;p>&NewLine;<p>Built by a team of tax experts—with experience at Deloitte and EY&comma; among others—Anrok’s platform is trusted by top tech companies to navigate complex sales tax challenges&period; The company managed compliance for over &dollar;7 billion of revenue in the past year alone&comma; and innovative companies like Notion&comma; Vanta&comma; and Anthropic rely on Anrok to manage compliance worldwide and protect their bottom line&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;As a fast-growing software company&comma; Gem&&num;8217&semi;s customers are spread across the globe&period; We thought getting to compliance would be a long and expensive journey&comma;” says Temi Vasco&comma; Controller at Gem&period; &OpenCurlyDoubleQuote;With Anrok&comma; the path was simple&period; Anrok helps us manage risk more effectively&comma; and avoid surprise hits to our bottom line&period;”<&sol;p>&NewLine;<p>With this new funding&comma; the company plans to keep investing in R&amp&semi;D and product development&period;<&sol;p>&NewLine;